Nathan Andrew Winters - May 10, 2021 Form 4 Insider Report for ZEBRA TECHNOLOGIES CORP (ZBRA)

Role: Chief Financial Officer
Signature: /s/ Cristen Kogl, Attorney-In-Fact
Stock symbol: ZBRA
Transactions as of: May 10, 2021
Transactions value $: -$643,289
Form type: 4
Date filed: 5/12/2021, 10:37 AM
Next filing: May 24, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZBRA	Class A Common Stock	Tax liability	-$101K	-208	-3.99%	$484.04	5K	May 10, 2021	Direct
transaction	ZBRA	Class A Common Stock	Tax liability	-$543K	-1.12K	-22.42%	$484.04	3.88K	May 10, 2021	Direct
holding	ZBRA	Class A Common Stock						5.21K	May 10, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	ZBRA	Stock Appreciation Right						1.1K	May 10, 2021	Class A Common Stock	1.1K	$149.57	Direct	F1
holding	ZBRA	Stock Appreciation Right						315	May 10, 2021	Class A Common Stock	315	$205.12	Direct	F2
holding	ZBRA	Stock Appreciation Right						578	May 10, 2021	Class A Common Stock	578	$244.97	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Of the stock appreciation rights subject to this SAR, 552 vest on May 10, 2021 and 552 vest on May 10, 2022.
F2	Of the stock appreciation rights subject to this SAR, 105 vest on May 2, 2021, 105 vest on May 2, 2022 and 105 vest on May 2, 2023.
F3	Of the stock appreciation rights subject to this SAR, 144 vest on April 30, 2021, 144 vest on April 30, 2022, 145 vest on April 30, 2023 and 145 vest on April 30, 2024.